Bitcoin Price Crash Not Over? Analyst Predicts Another 30% Crash As Longs Pile Up Again

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Top crypto expert Capo has indicated that the Bitcoin terms clang is not over. This comes amid a rebound successful the flagship crypto, which has climbed from the lows recorded during the caller crypto marketplace crash.

Analyst Predicts 30% Drop For The Bitcoin Price

In his latest market update, Capo predicted that the Bitcoin terms could inactive driblet different 30%. This came arsenic helium noted that the flagship crypto remains supra $100,000, acold from the $60,000 to $70,000 scope that would align with a implicit marketplace correction. He added that until then, the downside imaginable remains significant.

This marketplace update comes amid the crypto marketplace clang past Friday, erstwhile Bitcoin fell to arsenic debased arsenic $104,000 pursuing Trump’s announcement of a 100% tariff connected China. $19 cardinal was wiped retired from the crypto market, marking the largest liquidation lawsuit ever. Capo opined that the lawsuit was apt the ‘pre-Black Swan event’ and the archetypal signifier of thing larger.

The expert noted that altcoins person already seen historical capitulation, but that respective large coins inactive haven’t afloat flushed. Capo asserted that the wicks should yet beryllium filled and that little levels whitethorn inactive beryllium up for the Bitcoin price and the broader crypto market. Meanwhile, helium mentioned that a little consolidation implicit the play was apt but that much downside should travel this week arsenic the planetary markets open.

The Bitcoin terms bounced implicit the weekend, reaching arsenic precocious arsenic $116,000, arsenic long positions piled up again pursuing the wipeout. Crypto expert The King Fisher highlighted upside liquidity of up to $118,000, noting that “weekends are for BTC scope liquidations fishing.” It is worthy mentioning that BTC had besides rebounded acknowledgment to Trump’s statement connected Sunday, successful which helium allayed fears of a full-blown commercialized warfare with China.

Bull Market Is Not Done Yet

Crypto expert Titan of Crypto assured that the bull marketplace is not yet, indicating much upside for the Bitcoin price. The expert explained that the bull market starts erstwhile BTC reclaims its 50 SMA and that the carnivore marketplace starts erstwhile it loses it. The flagship crypto besides achieved a play candle adjacent supra $112,000, which confirmed Titan of Crypto’s thesis.

Meanwhile, crypto expert Jelle noted that the Bitcoin terms is backmost astatine the $115,000 absorption area. He further remarked that a palmy reclaim of this level could nonstop the flagship crypto to a caller all-time precocious (ATH). BTC had deed a new all-time high supra $126,000 earlier past week’s crash, which erased its October gains.

At the clip of writing, the Bitcoin terms is trading astatine astir $115,100, up implicit 3% successful the past 24 hours, according to data from CoinMarketCap.